Today we pay homage to Daniel Kahneman who pioneered the field of behavioral economics.

We also take a look at last month's jobs report, inflation data,

we discuss Capital One's acquisition of Discover and the National Association of Realtors Settlement,

which has potentially game-changing implications when it comes to how we buy and sell homes.

Welcome to the first Friday bonus episode of the

Afford Anything Podcast.

This is the show that understands you can afford anything,

but not everything.

Every choice that you make carries a trade-off and that

applies to your money, your time, your focus, your energy, your attention. It applies to

the allocation of all limited resources. So what matters most and how do you make decisions accordingly? Those are the two

questions that this podcast exists to explore. My name is Paula Pan, I'm the host of the show on the first Friday of every month we host a bonus

episode in which we cover a monthly economic update so welcome to the April

2024 first Friday bonus episode.

We begin with a tribute to Professor Daniel Kahneman who passed away on March 27 at the age of 90.

Professor Daniel Kahneman won a Nobel Prize in Economic Science in 2002

and is widely credited with pioneering the field of behavioral economics, the psychology of how we spend our

money, which is very much what this podcast is dedicated to exploring. Now traditional economics assumes that is assumption that humans make rational choices and in the times in which we act

irrationally we do so only because the stakes are low when the stakes are high enough, people act in their rational self-interest.

That is the premise on which the traditional field of economics is anchored.

Professor Kahneman, who did... traditional field of economics is anchored.

Professor Kahneman, who did much of his work at Princeton,

...